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Day: November 15, 2011
November 152011
South African Rand Falls as Europe Hurts Market Sentiment
The South African rand declined today as worries about the European crisis and its impact on the global economy deepened, reducing demand for higher-yielding currencies among investors. The world still looks at Europe, trying to predict how the situation will progress. South Africa is particularly interested in the wellbeing of the European Union, which is the nation’s biggest trading partner. The subdued inflation expectations makes analysts to expect the South African Reserve Bank to keep […]
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November 152011
US Dollar in Demand as Eurozone Worries Mount
US dollar is in demand as a safe haven as concerns about the eurozone continue to grow. Even though the US has its own economic struggles, the dollar is considered one of the most stable currencies in the world, and Forex traders are looking for that safety. It doesn’t hurt, too, that, once again, there are whispers that the sovereign debt crisis could mean the end of the eurozone. Many Forex traders are […]
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November 152011
Euro Lower on Bond Yields, Economic Disappointment
Euro is lower today in Forex trading, thanks to higher bond yields in some countries, and to disappointing economic news. It looks increasingly as though EU leaders will be unable to contain the debt crisis, and markets are responding accordingly. One of the biggest issues right now is that bond yields are rising in the eurozone. Italian bond yields continue to rise — even after the ECB bought some bonds […]
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November 152011
STP, NDD, ECN — WTF?!
Even experienced traders often get confused with various Forex terms. STP, NDD and ECN are very important acronyms and are popular in brokers’ lexicon. The term “market maker”, in spite of not being an acronym, is closely related to those three and is used to describe Forex brokers. Unfortunately, the definitions of these terms are quite vague and you may find rather contradictory versions online. Here, I try to provide […]
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November 152011
EUR/USD Down as Market Sentiment Remains Unfavorable
EUR/USD was down today as pessimism and doubts about ability of the European Union to resolve the debt crisis plagued traders. The news from the US, on the other hand, were largely positive, excluding the falling PPI. PPI edged down 0.3% in October (seasonally adjusted) after rising 0.8% in September, while median forecast was a 0.1% decline. (Event A on the chart.) Retail sales grew 0.5% in October, more than analysts estimated (0.3%). […]
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November 152011
Canadian Dollar Falls as Sentiment Shifts to Pessimism
The Canadian dollar extended its yesterday’s decline today as the returning concerns about the debt problems in the European Union made traders shun riskier currencies. As it was in the past instances, optimistic sentiment about Europe, caused by good news, quickly turned to pessimism and risk aversion. It’s hard to expect the situation to improve overnight, but it often looks like there are no changes at all, even small one. Therefore, […]
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